Thursday, February 05, 2009
City sitting on nearly 1 billion in cash, also has nearly 1 billion in net assets
If you look at the KPMG annual auditing report on page 19 you will see that we have nearly one billion dollars in cash on hand, about two billion in liabilities, and two billion in other assets. This leaves us about 1 billion in the black. No wonder the Mayor feels comfortable in giving away land for free. Not sure why he feels comfortable cutting the school budget.